TIDMCFX

RNS Number : 6356L

Colefax Group PLC

14 September 2021

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM THE UNITED STATES OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

Capitalised terms in this announcement, unless otherwise defined, have the same meanings given to them in the Circular published by the Company and sent to Eligible Shareholders on 20 August 2021 (the "Circular").

COLEFAX GROUP PLC

("Colefax", the "Group" or the "Company")

Result of Tender Offer

Purchase of Own Shares

and

Total Voting Rights

Colefax is pleased to announce the final results of the Tender Offer, details of which were set out in the Circular.

The Company confirms that the Tender Price is 615 pence, being the lower of: (i) 615 pence; and (ii) 657.30 pence, being 105 per cent. of the average closing mid-market price per Share as derived from the London Stock Exchange Daily Official List over the five Business Days immediately preceding 14 September 2021 (being the date on which the Shares are to be purchased). The maximum aggregate number of Shares that could have been purchased pursuant to the Tender Offer was 1,263,141 Shares (representing 14.0 per cent. of the Company's issued ordinary share capital).

A total of 1,084,905 Shares (representing 12.0 per cent. of the Company's issued ordinary share capital) were validly tendered by Eligible Shareholders under the Tender Offer. A total of 1,084,905 Shares will therefore be purchased under the Tender Offer (representing 12.0 per cent. of the Company's issued ordinary share capital). The total value of all Shares purchased is GBP6.7 million.

Under the terms of the Repurchase Agreement, Peel Hunt has a put option exercisable on 14 September 2021 to require the Company to purchase from Peel Hunt the Shares purchased pursuant to the Tender Offer at the Tender Price. The Shares purchased by the Company pursuant to the exercise of the put option will be cancelled (the "Cancellation").

On completion of the Tender Offer and the Cancellation, the Company's issued ordinary share capital will be 7,937,535 Shares and the total number of voting rights in the Company will be 7,937,535. This figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

It is expected that cheques for Tender Offer proceeds in respect of successfully tendered Shares will be dispatched and CREST payments made on 21 September 2021. Any queries concerning the calculation of accepted tenders and administration of the Tender Offer should be addressed to Computershare Investor Services PLC on +44 (0)370 889 3295.

As a result of the Tender Offer, there have been the following changes to the holdings of the following Directors and their connected persons:

 
 Name              Number of shares   Holding of shares      % of issued 
                       successfully       following the    share capital 
                           tendered        Tender Offer    following the 
                                                            Tender Offer 
 David Green             247,993(1)           1,523,386            19.2% 
 Robert Barker           70,000 (2)             115,680             1.5% 
 Key Hall                    29,742             118,970             1.5% 
 Wendy Nicholls              11,250              69,112             0.9%

Enquiries:

 
 Colefax Group plc 
  David Green, Chief Executive 
  Rob Barker, Finance Director       +44 (0)20 7318 6000 
 Peel Hunt LLP (NOMAD and broker) 
  Adrian Trimmings 
  Andrew Clark 
  Will Bell                          +44 (0)20 7418 8900 
 KTZ Communications 
  Katie Tzouliadis 
  Dan Mahoney                        +44 (0)20 3178 6378

Important notice

Disclaimer

This announcement has been issued by and is the sole responsibility of the Company.

Peel Hunt LLP, which is authorised and regulated by the FCA in the United Kingdom, is acting for Colefax Group Plc in relation to the Tender Offer and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to the customers of Peel Hunt LLP nor for providing any advice in relation to the Tender Offer and/or any other matter referred to in this announcement.

(1) The Shares successfully tendered by David Green comprise of 199,161 Shares in his name and 48,832 Shares in his wife's name.

(2) The Shares successfully tendered by Robert Barker comprise of 35,000 Shares in his name and 35,000 Shares in his wife's name.

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END

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September 14, 2021 02:00 ET (06:00 GMT)

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